Y Intercept Hong Kong Ltd Buys New Shares in American Tower Corporation $AMT

Y Intercept Hong Kong Ltd purchased a new position in shares of American Tower Corporation (NYSE:AMT) in the third quarter, according to its most recent filing with the SEC. The firm purchased 55,299 shares of the real estate investment trust’s stock, valued at approximately $10,635,000.

Other hedge funds have also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators lifted its stake in shares of American Tower by 87.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 601 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 280 shares during the period. UniSuper Management Pty Ltd increased its holdings in American Tower by 20.3% in the third quarter. UniSuper Management Pty Ltd now owns 483,349 shares of the real estate investment trust’s stock worth $92,958,000 after purchasing an additional 81,698 shares in the last quarter. Westfuller Advisors LLC acquired a new position in American Tower in the third quarter valued at approximately $261,000. Delta Financial Advisors LLC lifted its stake in American Tower by 16.2% in the third quarter. Delta Financial Advisors LLC now owns 1,448 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 202 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of American Tower by 13.9% during the 3rd quarter. Teacher Retirement System of Texas now owns 122,154 shares of the real estate investment trust’s stock worth $23,493,000 after buying an additional 14,913 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Transactions at American Tower

In other news, Director Eugene F. Reilly purchased 5,554 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were acquired at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the acquisition, the director owned 5,689 shares in the company, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the sale, the insider owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. This trade represents a 91.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMT. UBS Group lowered their price objective on shares of American Tower from $260.00 to $254.00 and set a “buy” rating for the company in a research note on Tuesday. BMO Capital Markets downgraded shares of American Tower from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $210.00 to $185.00 in a research note on Friday, January 9th. Raymond James Financial reiterated a “strong-buy” rating and set a $231.00 price objective (down previously from $250.00) on shares of American Tower in a report on Wednesday, October 29th. TD Cowen reduced their target price on American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Finally, Morgan Stanley decreased their target price on American Tower from $255.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $218.89.

American Tower Trading Up 1.0%

AMT opened at $178.68 on Friday. The firm has a market capitalization of $83.65 billion, a PE ratio of 28.54, a P/E/G ratio of 0.73 and a beta of 0.92. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. American Tower Corporation has a fifty-two week low of $166.88 and a fifty-two week high of $234.33. The company’s 50-day moving average is $177.51 and its 200 day moving average is $191.96.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping the consensus estimate of $2.64 by $0.14. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be issued a $1.70 dividend. The ex-dividend date is Monday, December 29th. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. American Tower’s dividend payout ratio is currently 108.63%.

American Tower Company Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.